The moderating role of financial development in the globalization-sustainable development nexus in some selected African Countries

Osinubi, Tolulope Temilola

doi:10.1007/s10644-021-09376-y

Cited by 9 publications

(5 citation statements)

References 32 publications

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“…Unexpectedly, the research findings of Tsaurai (2022) and Gounopoulos et al (2012), who contend that domestic credit, as a measure of financial development, has a positive impact on tourism, conflict with the idea that domestic credit negatively influences tourism. In a similar vein, the detrimental impact of domestic credit on sustainable development conforms to the findings of Ojeyinka and Osinubi (2022) and Twerefou et al (2017), but contradicts those of Pardi et al (2015). This can be explained by the low level of domestic credit as a percentage of gross domestic product (check The World Bank's World Development Indicators) in some countries (Algeria, Egypt, Iran, Iraq, Libya, Oman, Qatar, Syrian, and Saudi Arabia) in the MENA nations.…”

Section: Resultssupporting

confidence: 73%

Analysis of tourism and sustainable development in MENA economies

2023

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The existing studies suggest that the tourism sector may fast track the achievement of sustainable development due to its ability to guarantee the renewability of natural resources and the preservation of the ecosystem. Scholars also opine that tourist activities involve transportation that utilizes fossil fuels and non‐renewable energy sources. This implies that tourism may contribute to environmental degradation and slow down the achievement of the sustainable development agenda. In this paper, we contribute to this debate by examining the dynamic relationship between tourism and sustainable development in the case of the MENA region. Employing panel vector autoregressive based on the generalized method of moments framework (GMM‐PVAR) on data spanning from 1995 to 2019, we document that there is a positive and dynamic relationship between tourism and sustainable development in the MENA region. Further analysis shows that there is a bi‐causal relationship between the two variables; implying that they have a powerful prediction content of each other. The study recommends that effort should be made to develop pertinent policies to promote ecotourism in the region.

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Section: Resultssupporting

confidence: 73%

Analysis of tourism and sustainable development in MENA economies

2023

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“…Equation 4 uses the moderating effect of KOF to show the connection between the FD and environmental degradation. At level, the coefficient of the FD index has negative impact on CO 2 emissions (Godil et al 2021 ; Ojeyinka & Osinubi, 2022 ), whereas the quadratic coefficient of the FD index has a positive influence on CO 2 emissions in Q 1 , Q 2 , and Q 3 (Tahir et al 2021 ). The level and quadratic coefficients of the FD index propose a U-shaped relationship (Rani et al 2022a , 2022b ), which means that a higher level of FD in SAARC countries degrades CO2.…”

Section: Resultsmentioning

confidence: 99%

“…There are limited studies which have explored the connection between FD and CO 2 emissions by using the moderator variable of FD, which modifies the impact of FD on the environment. Ojeyinka and Osinubi ( 2022 ) worked 22 sub-Saharan countries to find the association between FD and CO 2 emissions. The results of the study show that FD is negatively associated with sustainable development, but the inclusion of globalization increases the CO 2 emissions.…”

Section: Review Of Literaturementioning

confidence: 99%

Exploring the moderating effect of globalization, financial development and environmental degradation nexus: a roadmap to sustainable development

Rani

Amjad

Asghar

et al. 2022

Environ Dev Sustain

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Financial development is a multidimensional process that contributes to economic growth but sometimes it has a devastating effect on climate change. No country can achieve sustainable development goals without caring the environmental quality. The present study investigates the moderating role of globalization (KOF) in determining the financial development (FD) on environmental degradation in the SAARC countries from 1990 to 2020. The long-run coefficients are estimated using the panel quantile regression (PQR) approach at lower, middle and upper quantile groups. The study shows the U-shaped relationship across three quantile groups based on financial development and carbon emissions. The moderator globalization (KOF) brings up the change in the turning point and flattens before the maturity of the U-shaped curve at the middle quantile while flattens after the maturity of the U-shaped curve at the upper quantile. The study recommends that by using energy-efficient technologies, better financial sector interaction with globalization enhances the environmental quality in SAARC countries.

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“…Each of the measures of poverty variables is regressed on the four globalization variables to isolate their individual effects on poverty among the selected African countries. A similar approach is employed by Ojeyinka and Osinubi (2022) and Osinubi (2020).…”

Section: Data Sources and Methodologymentioning

confidence: 99%

On the Nonlinear Effects of Globalization on Poverty: Insights from African Countries

Osinubi,

Ojeyinka

2022

Emerging Economy Studies

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The study examines both the linear and nonlinear effects of globalization in 38 African countries between 1996 and 2018. In doing this, the study employs both linear and nonlinear autoregressive distributed lag estimation techniques. The findings from the two approaches show that globalization reduces poverty in Africa. Specifically, the findings from the symmetric models imply that the selected countries have benefited, in terms of poverty reduction, from an increase in trade and information flows occasioned by the current wave of globalization. On the other hand, the results from the asymmetric effect of globalization on poverty suggest that positive and negative shocks in overall and social globalization ameliorate poverty in the selected African countries. Thus, the study recommends that African governments should embark on those activities that will help in increasing the level of globalization for poverty to reduce in the region.

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The moderating role of financial development in the globalization-sustainable development nexus in some selected African Countries

Cited by 9 publications

References 32 publications

Analysis of tourism and sustainable development in MENA economies

Analysis of tourism and sustainable development in MENA economies

Exploring the moderating effect of globalization, financial development and environmental degradation nexus: a roadmap to sustainable development

On the Nonlinear Effects of Globalization on Poverty: Insights from African Countries

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